Do not pay even a single rupee premium, you will get free insurance of Rs 7 lakh in your PF account, know how to avail the benefits.

EPFO Free Insurance: Employees Provident Fund Organization i.e. EPFO ​​is a scheme which invests a part of the salary of the employees working in companies every month. The objective of EPFO ​​is to invest this money and give its benefits to the employees after retirement. Whatever amount you deduct from your salary every month, you get a good interest i.e. 8.2 percent on it. To avail the benefits of EPFO ​​schemes, you must be an active member.

Many other facilities are also provided to the employees by EPFO, about which they may not know. EPFO members or employees who take PF deduction are given a free insurance cover of Rs 7 lakh.

What is free insurance scheme?

For your information, let us tell you that EPFO ​​employees or members get insurance cover up to Rs 7 lakh under the Deposit Linked Insurance (EDLI) scheme. The special thing is that you do not need to pay any kind of premium in this. You get this insurance for free. Actually, the benefit of EDLI scheme can be availed only by those employees whose account is active. If your account is not active or PF amount is not being deposited in your account every month, then you do not get the facility of free insurance. Under this insurance, on your death, a lump sum amount is paid to the nominee.

Who and how can avail the benefits of the scheme?

If you want to avail the benefit of free insurance provided by EPFO, then it is necessary to be an active member of EPFO. Along with this, it is necessary for the employee to be in job till the time of death. If you have changed your job within the last 12 months, then also you will be able to get the benefit of free insurance. To avail this benefit, you will first have to fill an e-nomination. For this you have to go to the official website of EPFO ​​and login by entering UAN and password. After this you have to fill the option of e-nomination.

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